Italy police break up international money laundering ring in Rome

December 17, 2014 7:27 PM

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ROME (Reuters) - Italian finance police on Wednesday arrested 17 people accused of running an international money laundering ring through a British-based money transfer services company which was used to shuttle illegal proceeds abroad, mostly to China.

Managers of Rome branches of Sigue Global Services Ltd. were among those suspected of international conspiracy and money laundering that investigators said amounted to more than 1 billion euros ($1.24 billion) in just over two years.